Analysts predict Apple Inc.’s market capitalization to reach $3 trillion on the development of its vehicle line and bullishness on its next iPhone, according to Bloomberg.
- Shares would need to grow 47% from Thursday’s close. Apple’s market capitalization is currently at $2.05 trillion, the most valuable in the world.
- Citigroup Inc. analyst Jim Suva said the Apple Car could boost sales by 10% to 15% after 2024. He expects electric vehicles to outpace gadgets such as smartphones, computers, tablets, and wearables by 2025.
- Wedbush analyst Daniel Ives expects the iPhone 13 to be a “game changer” as data points to a greater output than the previous models. He called the recent declines in the stock a “golden buying opportunity.”
- Apple shares fell 1.4% in premarket. Shares fell around 15% since the record high at the end of January.